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Large-cap value stocks outperformed their growth rivals in July, something that has not been a regular occurrence during the current bull market in U.S. equities. August is not over yet, but there some data points suggest value could again top growth this month.

Value stocks usually trade at lower prices relative to fundamental measures of value, like earnings and the book value of assets. On the other hand, growth-oriented stocks tend to run at higher valuations since investors expect the rapid growth in those company measures, but more are growing wary of high valuations.

Investors who are interested in rotating out of the growth style and into the value theme have a number of options to choose from. Plain vanilla index ETFs that track the value theme have underperformed so far this year. The iShares Russell 1000 Value ETF (NYSEArca: IWD), which tracks value stocks taken from the large-cap Russell 1000 Index, is trending higher.

The same is true of the Vanguard Value ETF (NYSEArca: VTV), which tracks the CRSP US Large Cap Value Index, and the Invesco S&P 500 Pure Value ETF (NYSEArca: RPV), which tracks value stocks taken from the S&P 500 index.

Vaunted Value

Weakness in some FANG stocks is prompting investors to revisit value fare and the related ETFs.